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Why did I list to my husband We may be in bigger debt & get riped off the same time.

My husband strongly encouraged me to sign up with him with this law firm group to help pay off our credit cards. They are American Financial law Group, LLC they are located in Florida. I heard on Clark Howard radio show that there are some debt settlement firms masquerading as law firms located in Florida which is a fish story people invent, the reality is that people get ripped off by paying upfront to settle a credit card debt for pennies on the dollar.
The company we are going through has ALL credit card numbers.
Please keep in mind Clark Howard 'DID NOT"specifically say the company name he just said it's a rip off scam.
What do I do?

Answer Question
 
bmwlover

Asked by bmwlover at 8:03 PM on Mar. 9, 2011 in Money & Work

Level 14 (1,760 Credits)
Answers (7)
  • contact the better business bureau if you have any concerns...I always google reviews of ________ company...that way I get to hear experiences from people who've used the business... good luck!! And if need be, cancel all the credit cards in the mean time, or atleast call the credit card companies. You can usually set all this up yourself, but if you choose to go through a debt settlement company, make sure to do some checking first! good luck!!
    katieandchris01

    Answer by katieandchris01 at 8:07 PM on Mar. 9, 2011

  • I am sorry to hear that. Hopefully you are in good hands. But I personally would always be carefully with whay you do. Is tehre a way you can read review on them? Maybe on the internet somewhere, google it?
    LittleBirdFly

    Answer by LittleBirdFly at 8:07 PM on Mar. 9, 2011

  • found some bad review on the:
    http://www.complaintsboard.com/complaints/american-financial-law-group-llc-c387262.html

    http://www.complaintsboard.com/?search=american%20Financial%20Law%20Group&sort=date
    LittleBirdFly

    Answer by LittleBirdFly at 8:10 PM on Mar. 9, 2011

  • Any money you pay should be to your creditors NOT to a debt settlement firm. I have heard that some of these companies take the money and never pay the original bills. Read the fine print on whatever forms you signed and possibly call a lawyer for a free first time consultation.
    elizabr

    Answer by elizabr at 8:13 PM on Mar. 9, 2011

  • The Dept of Justice has put together a database of credit counseling/debt consolidation orgs with the DOJ stamp of approval-  http://www.justice.gov/ust/eo/bapcpa/ccde/

    rkoloms

    Answer by rkoloms at 5:50 AM on Mar. 10, 2011

  • If you have closed your credit cards, then it shouldn't matter if they have your numbers b/c they can't charge anything to them anyway.
    SherriPie

    Answer by SherriPie at 8:38 PM on Mar. 10, 2011

  • Check out the National Foundation for Credit Counseling for legit ways to repair your credit.

    HotMama330

    Answer by HotMama330 at 12:14 PM on Mar. 11, 2011

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